Ebrahim was part of a so-called expert-network ring where some employees of specialized firms such as Primary Global Research (PGR) helped funnel corporate secrets from consultants at companies to hedge funds.

"I provided insider information concerning AT&T's sales of Apple's iPhone and RIM's (Research In Motion Ltd.) Blackberry products, as well as other handset set devices sold through AT&T distribution channels," Ebrahim told U.S. District Judge Paul Oetken in Manhattan.

Ebrahim pleaded guilty to one count of conspiracy to commit wire and securities fraud. Manhattan federal prosecutors, in a plea agreement with the defense, recommended that Ebrahim be sentenced to a maximum of two years in prison.

"We took this matter very seriously and cooperated fully with the authorities," said AT&T spokesman Marty Richtman. "The conduct alleged was clearly against our code of business conduct, and Mr. Ebrahim is no longer an AT&T employee."

An attorney for former Silicon Valley sales manager James Fleishman, who is imprisoned on conspiracy charges, identified Ebrahim as a PGR consultant in court documents last year.